Private Practices in Maine Michael Malloy

Title searches are a crucial part of a property transaction. For title insurance to be issued, the property's history must be known, which is where a title search comes into play.
On this episode of Private Practices in Maine, Michael welcomes Brendan Barry, associate attorney at The Malloy Firm, back to the show to continue their discussion on real estate transactions. This time, they’re breaking down title searches and how they impact the ability to obtain title insurance.
Michael and Brendan begin their discussion by explaining what a title search is and how to perform them. Once a title search is complete and the property's history is evident, Michael and Brendan explain how that relates to title insurance and the issuance of a policy. You will also hear what it means to have a marketable title, the curious property descriptions you may find in New England, and what land surveys can tell you about a property’s boundaries.
Knowledge is power, and Michael and Brendan want to put more power in your pocket as they outline more steps in the property transaction process.
In this episode, you will hear:
What a title search is and the steps attorneys take to conduct a title search The skill and professionalism required to decipher the large amount of information a title search will provide The information included in a summary following a title search, which is used to prepare a title insurance commitment Marketable title, what it means, and who decides what a marketable title is How land boundaries are described in the Registry of Deeds and the ways in which those are used for title examination and insurance When land surveys are conducted and who requests them The conversation to have with your lender to get a title search completed earlier in the process of purchasing a property Maine title standards and how they impact marketability Resources from this Episode:
Website - malloyfirmmaine.com
Phone - (207) 333-6700
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Episode Credits:
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

Reviewing the title is one of the biggest items in closing a real estate deal. There are many types of deeds, and understanding the ins and outs of the one that applies to your situation is critical.
On this episode of Private Practices in Maine, Michael welcomes attorney Brendan Barry back to the show to continue their discussion surrounding real estate title and how they impact the purchase of a business. Brendan is an associate attorney on staff at The Malloy Firm and has a particular interest in real estate law, particularly title. He helps Michael break down the intricacies surrounding real estate titles.
To begin their conversation, Brendan defines basic real estate terminology, such as what a deed  is and the different types of deeds. You will hear how attorneys trace title transfers, how long they are required to trace the title in the state of Maine, and what it means to have a warranty deed. Finally, Michael and Brendan explain the six promises a warranty deed makes and what they do for buyers and sellers.
Real estate transactions can be tricky, especially when purchasing a business, and Michael and Brendan are making real estate title easier to understand and execute.
In this episode, you will hear:
The definition of a property deed and how it acts as an instrument of conveyance What the Registry of Deeds is, and how it impacts the buying and selling of real estate The ability to trace every transaction on a property and why it is not necessary today in Maine Maine’s requirement to trace property transfers back 40 years until a warranty deed is discovered The purpose of a warranty deed and the six promises it makes Other types of deeds and how they affect the transference of properties The benefit of a warranty deed when buying or selling a property Resources from this Episode
Website - malloyfirmmaine.com
Phone - (207) 333-6700
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We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
 

While title insurance may seem like a small component in a real estate transaction, it is one of the most important pieces of the real estate transaction puzzle. It protects the policy holder even after the sale is completed if issues arise.
On this episode of Private Practices in Maine, Michael introduces us to Brendan Barry, the newest associate attorney on staff at The Malloy Firm. Brendan began his tenure at The Malloy Firm as a summer intern and continued to work through his third year of law school as a paralegal. He recently became a fully licensed Maine attorney and is particularly interested in real estate law.
Michael and Brendan begin their conversation with Brendan’s decision to become an attorney and his interest in real estate. Many properties in Maine have been handed down through the generations, making it a unique place to practice real estate law. You will hear about selling property and transferring land and why title insurance is essential. They also explain what title insurance protects, who issues title insurance, and how often you pay the premiums for it.
Purchasing a property, whether residential or commercial, can be tricky. One way to avoid future hiccups is to ensure you have the proper insurance. To learn more about how title insurance is beneficial during a real estate transaction, tune in for this informative conversation with Brendan  Barry.
In this episode, you will hear:
An introduction to Brendan Barry, the newest attorney at The Malloy Firm. What drew Brendan to business law versus becoming a litigator and his family’s involvement in owning a business The process of selling and transferring land and the importance of title insurance in that process An explanation of title insurance’s role in the buying and selling transaction Why properties that are handed down generationally through families often do not have title insurance Who originates title insurance policies and The Malloy Firm’s role as a licensed agent of the insurance carrier The benefits a title insurance policy can provide to an owner if a claim is filed and examples of circumstances that might prompt an owner to file a claim How often title insurance premiums are paid, how the insurance company evaluates risk, and what exceptions to the policy they can put into place Resources from this Episode
Website - malloyfirmmaine.com
Phone - (207) 333-6700
Follow and Review:
We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

Emotions play a much more significant role in our success than we sometimes believe. Professional practitioners can be particularly egregious when acknowledging and handling their feelings. Instead, they place their noses to the grindstone and continue pushing ahead while stifling any negative emotions that may crop up.
In this episode of Private Practices in Maine, Dr. Tarryn MacCarthy will explain why stifling your emotions instead of dealing with them is the wrong approach. Allowing yourself to feel your feelings can propel you to success while giving you the gift of being fully present in your personal and professional lives. In her conversation with Michael, Dr. MacCarthy offers tips for acknowledging your emotions, why professionals often struggle with their feelings and imposter syndrome, and how to take radical personal responsibility for your feelings.
Dr. Tarryn MacCarthy is an orthodontist and co-owner of MBrace Orthodontics in Falmouth, Maine. She is also the podcast host of The Business of Happiness and the founder of The Business of Happiness Transformational Mindset Coaching. As an immigrant, a practice owner, and a professional, Dr. MacCarthy felt something was missing in her pursuit of happiness. She went on a personal journey to figure out what was wrong and discovered that it all came back to how she dealt with her emotions. Ultimately, it led to the founding of The Business of Happiness, which teaches other professionals how to find happiness and balance as she did.
Finding yourself struggling with unhappiness after working tirelessly to achieve success can be overwhelming, and Dr. MacCarthy’s advice for taming the fight-or-flight response makes this a must-listen episode.
In this episode, you will hear:
Dr. Tarryn MacCarthy’s move at 12 years old from South Africa to the United States and the impact her immigration had on her success
The missing component in her pursuit of a dentistry career and how that led her to purchase a practice
How Dr. MacCarthy discovered what really mattered to her after a downward spiral into a fight-or-flight state
Her realization that she did not choose the life she was living and why the disconnect comes from not living in alignment with your own values
What radical personal responsibility is, the impact it can have on a professional career, and how Dr. MacCarthy defines happiness
Why knowing yourself well can help decrease your stress levels
Dissociation, aggression, and control’s roles in coping with what’s happening in your life
Feeling the full spectrum of emotions to find happiness and processing them in a safe space
Why you must take responsibility for your own feelings and how meditation can help
Setting a meditation routine and habits to incorporate it into your day
Everyone is in their own heads--just like you are--and chaos can feel like safety
Dr. MacCarthy’s program, Radical Happiness for Practitioners, and how it can help professionals calm their nervous systems down
Resources from this Episode
Dr. Tarryn MacCarthy’s website - www.thebizofhappiness.com
Find Tarryn on Instagram - www.instagram.com/thebizofhappiness
Connect with Tarryn on Facebook - www.facebook.com/thebusinessofhappiness
Find Tarryn on LinkedIn - www.linkedin.com/in/dr-tarryn-maccarthy-2b401b123
Website - malloyfirmmaine.com
Phone - (207) 333-6700
Follow and Review:
We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow

Borrowing money from a community-based bank has distinct advantages over large corporate banks, including looking at the whole person--not just who they are on paper.
In this episode of Private Practices in Maine, Michael welcomes back Rob Westhoven of Androscoggin Bank for part two of their discussion on private practice financing. Rob is an expert in commercial  financing, and his expertise brought private  practice lending to Androscoggin Bank.
As a Senior Vice President and Director of Dental Banking, Rob understands the intricacies of private practice financing. Michael and Rob’s conversation covers why other banks have difficulty replicating Androscoggin Bank’s lending practices, the role of “collateral risk” in lending to small private practice owners, problems you may face when using Small Business Association (SBA) loans, and the issues that can arise in medical practice lending while preserving innovation and community assets.
You will not want to miss Michael and Rob’s final thoughts on private practice lending in a community environment.
In this episode, you will hear:
The three types of lending institutions and how they differ Why borrowing money from banks to purchase professional practices can be difficult and how banks approach the healthcare industry How Androscoggin Bank k sets itself apart from other banks and why other banks have a difficult time replicating the Androscoggin Bank private practice lending process The first step in understanding the risk of lending to a private practice professional Allowing for “collateral risk” that may be present with a small private practice owner is dependent on the person you’re dealing with Problems that can arise with a Small Business Association (SBA) loan versus a loan with a community-based bank Rob’s experience as a commercial finance specialist and how his expertise convinced the president of Androscoggin Bank to set up a dental lending  program in their community Overcoming problems in private practice lending while preserving community assets and innovation Resources from this Episode
Connect with Rob Westhoven on LinkedIn - www.linkedin.com/in/robert-westhoven-844aa745
Androscoggin Bank - www.androscogginbank.com
Website - malloyfirmmaine.com
Phone - (207) 333-6700
Follow and Review:
We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

A dream that many newly licensed professionals share as they enter the marketplace is starting their own business. While that goal is clear, it is often unclear how to make it a reality.
In this episode of Private Practices in Maine, Michael welcomes guest Rob Westhoven, a Senior Vice President and Director of Dental Banking at Androscoggin Bank. As Director of Dental Banking, Rob specializes in helping professionals fund their practice dreams.
With Rob’s extensive knowledge of lending, together they remove some of the mystery from obtaining a professional practice loan in part one of this series. They discuss what a savvy loan officer should understand about their institution and how it impacts the client, the five Cs of credit, and why lenders typically like to see a borrower that has experience before they purchase a practice.
Making your dream of owning a practice should not be mysterious, and with Michael and Rob’s expertise, you will walk away from this episode more informed and prepared for a practice loan.
In this episode, you will hear:
Rob Westhoven’s path to settling in Maine with his family and how he ultimately landed at Androscoggin Bank as a senior vice president His decision to transition from loan officer to credit analyst and the differences between the two roles Why it is important for a loan officer to understand the priorities and requirements of their institution  How Rob became interested in private practice lending and what makes it different from other industries The five Cs of credit Rob’s lending approach for new professionals who want to borrow money to start or purchase a practice Why a borrower should have  clinical experience before purchasing a healthcare practice and how lenders assess relationships between buyers and sellers The investment professionals make in their careers and how that dedication and character help create business relationships Resources from this Episode
Connect with Rob Westhoven on LinkedIn - www.linkedin.com/in/robert-westhoven-844aa745
Androscoggin Bank - www.androscogginbank.com
Website - malloyfirmmaine.com
Phone - (207) 333-6700
Follow and Review:
We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.